Shopify (NASDAQ:SHOP) stock fell nearly 9% on Tuesday after the e-commerce software company posted its third-quarter results. At roughly $144 as I write, shares are about 20% below their Oct. 12 record close of $179.22. The slide came even though revenue climbed 32% year over year to about $3.7 billion and free cash flow jumped 61% to $816 million. Before the report, I wrote that I'd rather wait and see where shares settled afterward. The stock was around $157 then, or about 86 times its trailing free cash flow. Now the cash flow has come in slightly over the $800 million I'd penciled in for a strong quarter, and the price is lower. Is it finally time to buy?
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